Listed by Ariel Property Advisors
$5,750,000
Corner 67 Unit Mixed-Use Walk-Up Building
Details
Property Type Multifamily, Mixed Use
Sub Type Apartment Building
Square Footage 63,185
Units 67
Cap Rate 9.23%
Price per SqFt $91
Buildings 2
Stories 6
Lot Size (SqFt) 13,602
Zoning R7-1
Mixed-Use | 67 Units | 63,185 Gross SF
Marketing description
For Sale
Investment highlights
- Located on the south side of W 168th Street between University Avenue & Ogden Avenue
- Unit breakdown is comprised of twenty (20) 1-bedroom apartments, thirty-nine (39) 2-bedroom apartments, five (5) 3-bedroom apartments, one super’s unit and two (2) commercial units
- Benefits from a J-51 tax alteration on each of the buildings that are set to expire in 2029
- Additional income realized through antenna lease
- Transportation options nearby include the Major Deegan Expy, Jerome Avenue, Bx18A, and the 4 train at 167th Street
- Within a mile of the recently renovated Highbridge Park, Bronx Lebanon Hospital, Yankee Stadium, as well as the West Bronx Recreation Center
- Within a short walk to prime East 167th Street retail coridor, The Highbridge Green School, & PS 126
- Residential Units 65
- Commercial Units 2
- Antenna Unit 1
- Total Units 67
- Air Rights Sq. Ft. None
- Tax Class 2
- Assessment (25/26) $1,363,050
- Taxes Before Exemption $170,381
- J51 Exemption (34 Yr Old Version) ($760,211)
- Real Estate Taxes (25/26) $75,355
Listing Contacts
Listed by Ariel Property Advisors
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